MAINBOARD-LISTED skincare-product company Best World International, which remains under a bourse probe over its sales model in China, on Thursday recorded a 28.6 per cent year-on-year rise in its first-quarter net profit to S$13.3 million. Read more at The Business Times.
MAINBOARD-LISTED skincare-product company Best World International, which remains under a bourse probe over its sales model in China, on Thursday recorded a 28.6 per cent year-on-year rise in its first-quarter net profit to S$13.3 million.
Revenue for the quarter ended March 31 was up 39.7 per cent on the year to S$74.6 million, boosted by growth in the company's core direct selling and franchise businesses. The growth in revenue was chiefly generated out of Taiwan and China. Takings in Taiwan increased 29.8 per cent on the year to S$22.2 million. Best World this was mainly due to"highly effective" distributors converting leads and servicing existing members, as well as new marketing strategies.
Meanwhile, revenue from China rose 53.2 per cent on the year to S$39.7 million, which Best World attributed to its franchisees tapping social platforms such as WeChat and Red to boost demand for its DR’s Secret product amid the novel coronavirus outbreak.
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